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Until concrete news that the original reservoir ( now the sidetrack ) has come up trumps the mm's can play this up and down and appear to already be doing just that.
The drill to 1830m depth actually only took 2 weeks, the 3 weeks was not due until this Thursday ( and RNS would have taken a day or so to get content checked over by legal eagles / Nomads etc ) so the sidetrack news may come end of next week.

Sorry Jace, once again typing while you posted same content.

I also read it as RBD's £750k will cover Crallian's expected costs ( because it is worded as such ) and hence the reason why RBD have gained a bigger stake in Corallian as a result.

Also would not UOG, BOIL and ADL have stated that they are required to provide a % of the side track costs?

Hi Boom looking at Bunga RNS it really does read as though it is as dead as it could be, I have written it off and think the mm's did as well hence the 50% initial drop which we are still climbing out of.
We may have 3m barrels here :¬)
atb mate

Jarv after the initial digestion of the RNS you are spot on, Bunga gave a very negative feel to adl and a 'here we go again' atmosphere to the point Colter was felt doomed by association and a duster was in the back of most people's minds. We have oil and gas shows and an additional bonus of an extra discovery.
We are looking at a possible $30m drop into ADL coffers if we have a buyer at Wytch Farm.
A duster it is not.
ab

RBD stumping up £750,000 stating this will cover the sidetrack drilling costs for Corallian, (RBD get a 30% discount) they have put these figures in the 2nd RNS release.

Sorry Shareinvestment you pipped me to it but yes RBD much more upbeat and putting money where their mouth is.

Obviously RNS has been posted on RBD board as well and they seem much more upbeat in that they have now increased their holding in Corallian on the strength of this, they see it as total additional oil discovery to the original and not in place of.

"Additional Hydrocarbon structure" to the original. It's all about volume of recoverable and this may increase the first expectations, steady as she goes.

Can't argue with that, after Bunga I will settle for Colter mate.

Morning Boom, I must admit I saw the administrators bit of Atlantic RNS and thought he we go / winding up etc but having read it twice ( slowly) and digested it it does look as though they are restructuring debt repayment. Most companies have debt so its not a dirty word just as long as you have the means to rtepay it back.

The resource upgrade of Badger will be welcomed and if it comes in surplus to 500 bcf then it is big enough, i think anyway, to justify the £12m drilling tag, jv's / farm ins accepted.

" All conditions fo the loan were fulfilled" and " We now look forward to securing the remaining value from our existing portfolio to add new ventures for future growth"

Hopefully Atlantic can be true to their word and indeed concentrate on 'new' ventures and it would be nice if Bagder was one of them.

Drill costs £12m which is not a huge amount for the potential returns, think it will go ahead.

Trades are all sells at the moment, not sure why you would sell with news due any time.

An update is due 01st March, they are undertaking a resource upgrade as we speak but obviously do not know for certain what content will be in the update, steady as she goes hopefully.

If the drill has not hit snags or incurred any problems then we may hear late next week, I wouldn't mind a favourable Badger update on Friday ( 01st March deadline) to push sp back to 1p ish and a higher sp launch pad for a great RNS result from Colter on the following Monday.
Same order but both earlier would be fantastic.

So long as Badger continues to progress and doesn't become a Bunga Mas Mark 2 then it will b excellent for ADL, with talk of 500bcf and a resource upgrade it is very significant even to bigger players and should be more than attractive enough for them to want to advance it.
With our current MarCap even a fraction of Badger will be trasformational ( 500bcf equates to $3bn turnover)

Morning Boom, I was just thinking it has only taken 2 - 3 early trades and up it goes, may well see some modest buying all through next week in anticipation of news, obviously we cannot be certain that it will be good news but if it is the upside will be multi - bags so the risk / reward is tempting to say the least.

Thanks Boom, moderate risk and hopefully retaining an ongoing interest until after Colter results and who knows sometimes its the ones that you least expect to come up trumps.
atb

I believe its approx $6 for 1000 cu ft of gas ( ready to be corrected) therefore 500bcf would be 500m x $6 which is $3bn. Thats turnover and not profit but well worth the effort to any company wanting to take it on.
Any details of probability / cos anywhere.